Bamco Inc. NY Sells 126,163 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Bamco Inc. NY trimmed its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 9.1% during the third quarter, HoldingsChannel reports. The fund owned 1,259,344 shares of the software’s stock after selling 126,163 shares during the period. Bamco Inc. NY’s holdings in Altair Engineering were worth $120,280,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC raised its stake in shares of Altair Engineering by 1.4% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock valued at $240,929,000 after purchasing an additional 33,985 shares during the period. William Blair Investment Management LLC bought a new stake in Altair Engineering in the 2nd quarter valued at approximately $91,589,000. Bank of New York Mellon Corp lifted its stake in Altair Engineering by 121.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock valued at $55,818,000 after acquiring an additional 312,448 shares in the last quarter. Candriam S.C.A. boosted its position in Altair Engineering by 28.9% during the 2nd quarter. Candriam S.C.A. now owns 560,565 shares of the software’s stock worth $54,978,000 after acquiring an additional 125,816 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Altair Engineering by 7.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 513,695 shares of the software’s stock worth $50,384,000 after acquiring an additional 37,114 shares in the last quarter. 63.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALTR has been the topic of a number of research reports. Rosenblatt Securities boosted their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada boosted their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, Loop Capital restated a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.71.

Insider Transactions at Altair Engineering

In other Altair Engineering news, major shareholder Christ Revocable Trust sold 50,048 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $95.07, for a total transaction of $4,758,063.36. Following the completion of the sale, the insider now directly owns 149,952 shares in the company, valued at $14,255,936.64. This trade represents a 25.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Teresa A. Harris sold 620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $89.70, for a total value of $55,614.00. Following the sale, the director now owns 21,242 shares of the company’s stock, valued at approximately $1,905,407.40. This represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 343,044 shares of company stock worth $33,980,921. 21.75% of the stock is owned by company insiders.

Altair Engineering Price Performance

Shares of NASDAQ ALTR opened at $105.61 on Monday. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average price is $100.49 and its two-hundred day moving average price is $94.57. The company has a market cap of $8.99 billion, a PE ratio of 277.93, a price-to-earnings-growth ratio of 12.14 and a beta of 1.44. Altair Engineering Inc. has a twelve month low of $70.07 and a twelve month high of $113.12.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.